NIFTY last week closed on positive. 10665 is the weekly and day closing. Last week NIFTY touched 11761. The effect of positive closing is that,
bulls are on firm foot. Any selling of minor degree will be bought. So keeping perfect stop loss of 11550 for this week,
one shall now try to see breakout of 11761 with sustained buying interest.
We at catch cash suggesting you for this week. Keep SL of 11550, tgt 10740-760 as first level.
Once breakout confirm go for 11850-11900 as final destination.
After that we see two probabilities of market making short term pause and will wait for election result to come. So one should avoid buying at top.
Second probability; try to focus on stocks instead INDEX for any new opportunities.
BANK NIFTY DAILY REPORT
Banknifty closing the week at 30000+ levels.Making new all-time high of 30628.
BANKNIFTY will continue the upward rally keeping base as stop loss of 29880-30000 for tgt of 30600-30830 in coming week.
Any trend reversal to happen, break of 29880 needs to break for two successive closing below.
Any Upward break of new base 30500, one must raise SL to 30500 for new target 30800-30900.